Allied World - New York, NY

posted 2 months ago

Full-time
New York, NY
Insurance Carriers and Related Activities

About the position

The Accountant for Ceded Reinsurance at Allied World Insurance Company is responsible for managing treaty and facultative ceded reinsurance reporting, as well as reconciling payables and receivables. This role involves various regulatory reporting duties within the Finance department, ensuring accurate financial records and compliance with industry standards.

Responsibilities

  • Perform insurance/reinsurance accounting activities related to premiums, losses, deposit accounting, collateral, cash allocations, and recoveries.
  • Prepare, validate, and distribute accurate treaty bordereau in a timely manner.
  • Handle treaty settlement preparation and collections.
  • Validate, settle, and collect facultative premiums and claims.
  • Apply cash in ceded applications and research open cash items.
  • Research, reconcile, and respond to inquiries from brokers and internal clients.
  • Confirm and reconcile system-generated ceded balances to general ledger source reports on a monthly basis.
  • Prepare quarter and year-end reporting.
  • Support internal audit and external GAAP auditors as required.
  • Engage in special projects including data analysis, reconciliations, external reporting, and process improvement initiatives.
  • Review aging collection status of outstanding reinsurance recoverables and resolve issues delaying payment.

Requirements

  • Bachelor's degree in Accounting, Finance, or a related field.
  • Experience in insurance or reinsurance accounting is preferred.
  • Strong analytical and problem-solving skills.
  • Proficiency in accounting software and Microsoft Excel.
  • Excellent communication and interpersonal skills.

Nice-to-haves

  • Knowledge of GAAP and statutory accounting principles.
  • Experience with reinsurance accounting systems.
  • Familiarity with regulatory reporting requirements.

Benefits

  • Competitive salary range of $65,000 to $80,000 per year.
  • Equal Opportunity Employer policies promoting diversity and inclusion.
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